global stocks nosedived. the coronavirus the us markets. 3 decades. of the world over. the best way to make. one of the countries to close its borders to. slow the progress of. others in the morning in moscow it's tuesday the 17th of march welcome to world news this hour the u.s.

stock market suffered its worst trading day since 987 with share prices tumbling by 13 percent on monday the coronavirus pandemic is causing turmoil on financial markets worldwide despite drastic action from central banks to limit the damage discussed what's driving the sell off with our senior correspondent. well there's only one way this is going and it is going down look at yourself in a matter of weeks the dow jones industrial average this is this is an average of many major corporations so an index of their stocks the average it is plunged to levels that we saw that the world was out in 2070 so over the course of a few weeks we've race all economic progress made over the last 3 years and this is still early days yet i mean the pandemic in the united states it is predicted to get much much worse and essentially what we're seeing is the equivalent of a run on banks so if

a bunch of people run by sea to try to get their money out this is what investors are doing now with the stock markets with the stock markets in the united states and. their reaction has been so far to come out and say they're obviously trying to avoid inciting paddick they're trying to calm everyone down and they're pulling money out of thin air billions and billions 700000000000 that they announced in financial measures which is quantity of easy which is a bailout which is it's essentially printing money pulling it out of thin air and giving it to bags the whole point of this is to keep keep banks running what is a bank to bank has money what does it do with this money doesn't sit in it it gives it out so it gives it gives it out to you you're a business you're a mortgage owner you get all this money and here's the bag it has hardly any left suddenly all these. debtors all these that is come to the bank and say look we want

our money back the bag doesn't have any money i mean you've got all the money you pay every month you pay every month the situation we're in now is the entire industry is collapsing while manufacturing italy is on lockdown and the banks rule exposed to this so nobody's paying the banks so the brunt of the banks can pay the eventual. you know the people who invest that money in a bag how this is affecting markets around the world 1st it was china they shut everything down and this was you know this was the 1st warning bell because this would this is a knock on effect the entire world economy is interconnected a small bag somewhere in chicago has all timothy an interest in keeping things running in china because see it own stock in apple apple produces its phone to china so eventually there's no phones being produced in china. new phones being sold so the bank takes a loss ultimately it's all a knock on effect with genius across the entire world more quantitative easing and

rate cuts they're going to keep rates of this is this is to stimulate borat to stimulate bags to give out more loans on top of loans that are being paid back so that we can at least pretend that things are going on as as usual we have these fiscal measures out there and they're very powerful i mean the sum total as well over $800000000000.00 from our forward this is it is sort of kicking the ball down the road. all this money the more that a trillion if if though those $800.00 a pretty to get more than a trillion dollars that people are going to have to pay back this is banks this is ultimately borrowers that are going to have to pay back all this huge amount of money but there's no alternative. is to watch the entire thing crash and burn and the europeans especially worried about it we support our companies we support the small and medium enterprises and above all we support people we support them in

their jobs we support them with their income losses so right now the focus is on strengthening our economies and investing what ever is necessary to have the economy going on further the future looks very believe. because you will have hundreds hundreds of millions of people all around the world sitting at home without jobs and entire interests industries at a standstill but everyone has to eat you know their loans to pay there are responsibilities that must be attended so it's anyone's guess uncharted territory how this is going to go until to territory and they hope we also sounded out economist richard wolfe who thinks confidence is slipping in governments and it could spell a disaster on a par with the great depression because lots of the markets today down 10 percent roughly here in the united states in new york city where i'm sitting it is a clear very profound statement that the entire investment community which is not

the small people who have a few shares i'm talking about the people who manage pension funds who manage bank board following orders and so on have a massive loss of confidence in the government of the united states or in the private economy to get out of this disaster after a cut in the interest rate last week and even bigger double the size cut this week and the announcement of stimulus plans we do not see a recovery a turnaround we see that these are interpreted as signs that this situation is out of control and i think you see that in the business community you see it in the mass of the working class you see it in average people everywhere are we are out of soap in our supermarkets we are experiencing the kind of meltdown that you associate with events like the great depression of the 1930 s.

and the world health organizations announce that the global death toll from the corona virus has now overtaken china's ground 0 for the deadly had outbreak. in the past we we have seen an ip discoloration of cases of course 19 more cases and is have now been reported in the rest of the word than in china. according to the latest estimates deadly cases from around the rest of the world have now outstripped china by around 600 approximately 16000 more people have been infected around the globe compared to the total number in china where the virus outbreak was 1st reported on monday beijing announced that it was sending additional experts to help tackle the pandemic in italy the 1st team arrived in rome last week with tons of medical aid including masks and respirators it's been reported that italy's aid you allies have refused to help saying they need to stockpile essential for their own citizens but to pack them one who's a senior lecturer in international relations above university explains why china

stepped in to help italy. to china really has a very special crease because italy was the 1st country who signed the one bill one rule agreement so i believe as italy has already the extent that how we chrystia china china has taken it very seriously i submit all further to the entire 48 bars help from the you will however it didn't work that's why italy has to ask for help from china. are the european. states members who experience all know or is crisis and i believe that the chinese government would also be willing to extend help submittal for it's the core no one of us all group it's not china it's also all these to meet your economy see europe and in north america as well as disrupting all these global supply troops saw i believe we

are actually already the inter into recession. here in russia the number of confirmed coronavirus cases is approaching 100 and a few hours ago the government announced the temporary ban starting on wednesday on almost all foreign nationals entering the country double quarter looks at the other measures being put in place. well russia's corona virus infections have jumped to $93.00 people only 7 of which were actually infected within the borders of russia the vast majority came from abroad and the whole situation has really set off alarm bells with officials moscow's now banned public gatherings of more than 50 people until april 10th schools and universities will also be closed by the end of the week for about just under a month but students will be able to continue their studies over the internet now russia's also decided to close its border with neighboring bella ruse to halt the spread of the virus as for russian nationals returning from the u.s.

and europe they'll be confined to self quarantine for 14 days president putin's also already ordered the creation of a new group within the state council to address nationwide mobilization against the spread of the corona virus and starting tomorrow special volunteers will be sent to all of russia's virus stricken regions to help the most vulnerable the elderly to get through this difficult time but most of all moscow wants to make sure that a panic doesn't occur and it's assuring everyone that they need to stay calm while many countries are implementing aggressive measures to contain coronavirus the british government's being choppy criticised over its perceived lack of action and some of the latest concerns came out the country's chief scientific advisor mentioned going down the route of so-called herd immunity in other words allowing more than half the u.k.'s population to become infected. in terms of building up a unity within the u.k. what i mean what sort of percentage of people need to have contracted the virus

probably about 60 percent or so of the country's health secretary matt hancock later denied that achieving herd 'd immunity is u.k. government policy the cases in britain have now surged beyond 1500 with 55 people dead as a result of petitions been launched calling for schools across the country to be closed the government also stated it plans to band large events after delaying on that decision additionally the u.k.'s health secretary has said the people aged over 70 could be isolated for up to 4 months we asked people in london what they think about the government's high risk approach to tackling the pandemic. it's probably true if you take your eye i don't really describe how the 1st to respond i should do what i already knew so we put at risk. a situation like this i can see the argument doing that but really i can also see the n.t. say we're going to you know push it out of people to get that virus if we make things we've come down to die. a bit scared to justify this but we've got to carry

on living. overseas i don't say that far this is a peak into about 10 weeks time so that's when i will get really concerned what we don't know yet is full range of detail and if it didn't we would need to know whether or not we do become immune to this virus possibly. it's a great strategy possibly some wrong strategy we don't know but nobody seems to be giving this older range of people so once a year. on my colds lee is an associate professor of infectious disease modeling at the university of warrick in the u.k. he explained to us why slowing down the epidemic is so crucial. to your immunity is that when enough people have been in fact find them by. iris then. the epidemic will eventually die out so essentially what we're still trying to do is we're

trying to control the outbreak so we're trying to put in interventions that will delay the peak of the epidemic and also reduce the reduce the height of the epidemic at the point that the certain number of people would be infected then it could no longer in fact many more people because the sensually people had all their contacts and been infected and so in reduced to a low enough level that the epidemic would die out is a risk to have we know that the over seventy's and particularly the eighty's. because they may have underlying health conditions are more of a risk so all this that you want to protect those. those people in the population which is why these sorts of measures are being considered it's really important now that we keep these good hygiene practices that have been recommended we keep necessary isolation and quarantine policies and and the crucial thing here is to reduce the demands on the health service to make sure that those people

that really do need hospital cat have access to. the greek island of less bosses sliding deeper into crisis with the number of asylum seekers their swelling and opposition towards them growing the prospect of coronavirus tearing through the overcrowded maria camp is also causing tensions to flare with even aid organizations facing hostility evangelos sepsis report from that. the greek island of lesbos has a 3 way conflict on its hands as europe's front line to the migrant crisis some locals are taking more of a stance against the swelling numbers of refugees held up on the island and the ngos have been drawn into battle 2 reviews before people but not small couple of 100 they stopped blocking the streets because stopping cars that many n.g.o.s a bunch of that would stop in the vans or they would stuff in their rental cars and there was just much in them between them throwing stones at them they can people

beat them people we've been doing this kind of chasing also. india's so they said a big thing with the station amount of people that works and you know this is because they they. want to bust the message that n.g.o.s profit from human suffering finally we got the commission to talk in this part in a t.v. need we think it's a very good sign from the authorities that they made it possible to sign also to say that it's not just the group of patients that are going to take over. how things work on this island the migrants remain in overcrowded facilities with lack of hygiene it's frankly living in terrible conditions in a desperate move to try to pursue some of them to go back home the e.u. is offering 2000 euros as bait but some of them have traveled so far is that money really enough to make them go back. to cuba so to me the

dollar you know we're not talking about 2000 so that would be. almost 42000 euro says not to not come and love my country for money i love because it doesn't save the few protectorates they think the 3rd front is the one created by a right wing groups who do not appreciate their picture a sick island turning into a giant migrant camp. something more getting up assessment every day these people pass through our town without asking anyone they come and steal from the people here are fed up that's why we decided to make these barricades gather here as often as we can to prevent the refugees from entering the town and force them to take another route we have never been aggressive towards and we have never clashed with them on the contrary they come in gangs and try to argue with. a main goal is to protect the soaps and banks and where do they want to pass and we're here and since the growth of virus has been confirmed to me to an image it's another reason to

prevent them from entering here this additional struggle single speed very big price tourist season has become something of the past and businesses have even been forced to put the shutters for good and there is very much in our life here is horrible we were happier in the past they robbed us destroying our properties they even break into our houses most of the shops are closed and the refugees are the reason there are 25000 of them and only a 1000 of us. it. is the island that has been suffering the most the morea camp is overcrowded with refugees i believe we all have to sit down and find a solution because we can't live like this anymore our town can't survive like this we are fed up. this island might be a tiny greek period is that the sun shines on your r.l. but down here on the ground it's clouded over fear uncertainty. mental subsidies from lesbos greece or r.t.

. the leader of israel's blue and white party benny gantz since accepted an official request from the president to try and form a governing coalition it comes after a longtime rival of benjamin netanyahu was endorsed by a majority of lawmakers in the knesset following a 3rd inconclusive election in less than a year because aaron discussed the prospects of a new government with our correspondent in tel aviv. what does this mean for benjamin netanyahu. well it's certainly not good news i mean he's going to be hoping that there's going to be a 4th round of election he's also very surprised because he was the one who actually won these elections and. particularly from his voting bloc was that he would be the one to form the next coalition government what are the chances that guns can become the next pm look at this stage they seem quite small he's facing 2 main problems the 1st problem is that he's formed a coalition between our parties and a right wing political party belonging to a former army defense minister avigdor lieberman they are not natural allies so you

will just have one issue that will erupt in the 2 sides will fall apart guns also faces threats from 2 members of his own party who say that because he's formed this coalition they are going to withdraw and if they withdraw he won't have the 61 majority that he needs at this stage however the country's president we've been living in has tossed guns with forming the next government or at least trying to take the law gives you 28 days beginning tomorrow to form a government this is a short amount of time but given the current circumstances of national and international crisis even this is too long. i will do whatever it takes to form within a few days as possible national petri arctic and broad government so if guns doesn't manage to form a majority coalition one next. well then they're going to be for the elections and the question here for everyone is how do you hold elections when you have the coronavirus epidemic at the same time israelis are really fed up we've already had

3 elections here in the space of one year and it's costing the country a fortune but that will be the ultimate solution or at least the next step. and if it goes through a 4th round of elections would that benefit actually are here or guns it will probably benefit netanyahu because we're already seeing a lot of criticism from the guns camp he campaigned on a ticket where he said he would not have anything to do with the right wing political party they now have come on board and they complained on the ticket saying they have no. thing to do with the arabs and here you see them forming some kind of alliance so that that kind of support is going to be lost also done city wouldn't have any kind of relationship with the extreme our parties party called balad and he is having a relationship he needs them for the 61 coalition so people are likely to say the next time around hang on can we really trust guns can we really trust the coalition that he's going to build now let him know his corruption child was due to start tomorrow tuesday but it's been postponed because of the coronavirus pandemic now

what impact did his trial have on the elections where you might think that it might have had to make it to impact but actually it had the opposite in september he won 33 seats and this time around he won 36 seats so with these corruption trials going on behind the scenes his support particularly from his base has actually increased and this is because people say they must be unified against what they see as an attorney general that has it out for netanyahu against what they call a liberal unfair media so it's actually banded together the netanyahu supporters. an independent inquiry into child sex abuse in the u.k. has found that begin tonight is facilitating a sharp rise in predatory behavior and the police are struggling to respond to the growing threat according to the report's findings 11 to 13 year olds are most at risk it says that as many as $450.00 suspected peter falls were arrested each month and it stresses that the scale of abuse is likely to be considerably higher than the official figures show inquiry also noted that many internet companies are

failing to provide adequate protection for youngsters using their services. you don't know where this image is ruined out and that is an awful thing to think in that paedophiles can just look online and get whatever they want to scam.

you know the media now is far more accessible i feel that what we are just now aware of that not that it's changed really. outraged. and i feel that we need really big will changes to our whole criminal justice system we need a law that the police themselves not equipped. to deal with the. methods that abuses use. the report says the british government needs to work with tech companies to counter the online abuse it also says that new tools are needed to prevent the posting of indecent images online as well as algorithms to detect illegal content but also want schools to offer better guidance about how to stay safe online for the most legislation may be proposed which would enable the informant to tackle the problem more effectively. we can't arrest our

way out of the problem we have to look at a far more holistic approach we are a saturation point a model of again who exposed the poor handling of the rochdale child abuse ring in 2012 agrees that the government does need to be working more closely with tech companies even with the right training in the u.k. we must sit. deficits all police offices individual police offices are overwhelmed there are nazi noles all the it's down to the government to invest in the criminal justice system we need to address this calls we need more police offices we need a real commitment to invest in dealing with this kind of crime but alongside that i have to say that the giants like google like microsoft like amazon they have the hounds and legislation should make them

the funding too and she will that investment does go into these groups then he files for destroying and children's lunch because that is that she was. on a daily basis ok that's the way i look from moscow this chews day the 17th of march next update from me in the moscow news team from his brand new can bust. what would be historically considered one of the greatest financial crises of the under 15 years and that whereas a fall into the category of what do you classify it i think we're going to see

a global depression. point how quickly do we get out of it activist the problem there is that their prescriptions must far have caused the problem so they're actually the problem their names have been fed the central banks need to be removed from the equation because they are the problem. seemed wrong. but old rules just don't hold. any new world that is yet to shape out just to become agitated and engagement equals betrayal. when so many find themselves worlds apart we choose to look for common ground.

the market down continues as an early fed rate cut doesn't work out plan this is boom bust the one business show you can't afford to mess i'm christiane and i birds are born washington coming up the federal reserve has taken freston measures to combat the malays of the covert 19 impact we take a deep dive on the move and the way other central banks around the world are reacting plus. we have taken other decisions as well the most important is that we have argentina's borders during the next few days a period that can be extended to argentina supporters. and amid the outbreak what measures are some nations around the globe taking to slow the spread of overthinking we take a look around the world to see which nations have exposed trouble to stave the

effort out. and later a several industries have been the casualty of the recent economic slowdown you haven't planned as hard as the oil sector we have a live report on how falling demand and a price war has. been a jam packed show today so let's jump right and. futures head as limit down before market opened monday as the fed said the markets panicking yet again as the fed has expanded it all as conventional and unconventional tools which included this weekend cutting its key interest rate by a full percentage point to near 0 and boosting its bond holding by $700000000000.00 markets are still getting slammed triggering a 15 minute halt again right off the open we reduce the target range for our own interest rate by one percentage point bringing it closer to 0 or and so that we expect to maintain the rate at this level and who were confident that the economy has weathered recent events and is on track to achieve our maximum employment and price stability go. equities saying deeper into bear territory as the dow is now

about 30 percent off its all time highs investors are digesting nonstop news flow of companies shutting down operations countries sealing borders and infections spreading in normal circumstances a large policy response such as this weekend would put a floor under risk assets and support recovery however the fear is exponential and markets are questioning what else monetary policy can do in mitigating coronavirus induced risks investors are liquidating 1st and asking questions later prefer in cash in the front end nowhere is this more obvious that gold that has crashed down to 14 sixty's in just a few days silver has been taking a beat down as well down to its lowest level since 2009 and for the 1st time in human history has silver been this cheap relative to gold meanwhile as the fed announced a $700000000000.00 money printing scheme bitcoin has surged almost 15 percent its gain was short lived as it is not immune to the liquidity crisis however a big point reined in volatility and avoided heavier losses without any external

intervention such as circuit breakers and bailouts now on the other far end of the spectrum of market intervention many are calling for the markets to shut down temporarily to prevent further selling and quote own the shorts the philippine stock exchange has become the 1st to implement this and announce that it's suspending trading until further notice after the market wiped out just over a 3rd of market value since the november highs. is back below $30.00 after opec canceled their technical meeting this week that was meant to mediate between saudi arabia and russia sources said that it will be hard for both sides to reach a compromise now and then i guess market warns that extreme oil surplus is possible monetary policy is now being discounted as cheap or money does little to restore confidence in the average consumer in the face of a deadly pandemic 0 percent interest rates won't make up for much of the massive loss of activity and income for companies and consumers. more aware now.